The authors of a study published Tuesday in the Journal of the American Medical Association argue that the new wave of cholesterol-fighting drugs, hailed as a big medical step forward when they launched last year, should cost 70 percent less than their current list price to be worth the trouble prescribing them. The drugs’ owners, … Continue reading “In Cholesterol Drug Price Fight, Real Message Is “Wait Til Next Year””
Category: National
Cambridge Sound Aims to Turn Up the Volume on Office Sound Masking
When prospective customers visit the offices of Cambridge Sound Management for a demonstration of the company’s product, they experience it as soon as they walk through the doors. But they don’t notice it—and that means the product is working. Cambridge Sound Management makes “sound masking” devices that attach to the ceiling and emit barely perceptible … Continue reading “Cambridge Sound Aims to Turn Up the Volume on Office Sound Masking”
Avelas Bio Raises $20M to Push Cancer-Illuminating Biologic Agent
San Diego’s Avelas Biosciences, founded in 2009 to advance a fluorescing biologic agent intended to help surgeons differentiate cancerous tissue from healthy tissue, has completed a $20 million Series C round of venture funding. Pharmstandard International, the Luxembourg-based investment arm of the Russian pharmaceutical giant Pharmstandard (and a first-time investor in Avelas), led the round. … Continue reading “Avelas Bio Raises $20M to Push Cancer-Illuminating Biologic Agent”
Cerulean’s Shares Routed as Cancer Drug Comes up Short Again
Cerulean Pharma survived a near-death experience once before. But the Waltham, MA-based company now has another crisis on its hands. Cerulean (NASDAQ: [[ticker:CERU]]) said that its lead drug, CRLX101, failed its primary goal in a Phase 2 trial of 115 patients with renal cell carcinoma, a type of kidney cancer. The drug, when combined with … Continue reading “Cerulean’s Shares Routed as Cancer Drug Comes up Short Again”
Epic, Wellbe, WARF, & Arrowhead: This Week’s Wisconsin Watchlist
Lots of recent news from Wisconsin’s innovation community to catch up on. Let’s get to it: —Healthcare IT News spoke to leaders at Verona-based Epic Systems, including founder and CEO Judy Faulkner, about the ability of hospitals and clinics that use Epic’s patient records software to exchange data with other organizations. Faulkner told the blog that … Continue reading “Epic, Wellbe, WARF, & Arrowhead: This Week’s Wisconsin Watchlist”
Ford Says It Will Have Self-Driving Cars Within Five Years
Ask five auto executives to predict when we can expect to see self-driving cars make their commercial debut, and you’ll likely hear five different answers. Even though it’s an exciting technology that has captivated car manufacturers across the world, the industry seemed to agree that there is still a fair amount of work to do … Continue reading “Ford Says It Will Have Self-Driving Cars Within Five Years”
With $6M Investment, Histogen Aims to Grow Hair Business in China
Histogen, a San Diego-based regenerative medicine company with technology for growing skin cells and related products, said it has raised $6 million from an affiliate of Huapont Life Sciences, a healthcare products company based in Chongqing, China. The $6 million anchors Histogen’s plans to raise as much as $18 million in a Series D financing … Continue reading “With $6M Investment, Histogen Aims to Grow Hair Business in China”
Change of the Guard as Women 2.0 Deepens Its Ties to the East Coast
Women 2.0 is on the move, bringing its act in a big way to New York state. The San Francisco-based network and social platform for women technology entrepreneurs is getting a new boss and relocating its headquarters to just outside of Syracuse, NY. Today, CEO and co-founder Shaherose Charania announced she transferred ownership and the leadership … Continue reading “Change of the Guard as Women 2.0 Deepens Its Ties to the East Coast”
CRISPR and More at Boston’s Life Science Disruptors Oct. 20
It wasn’t too long ago that the gene editing system CRISPR-Cas9 was just a tool for research labs, not companies developing drugs. But that’s all changed, and now it’s on companies like Intellia Therapeutics (NASDAQ: [[ticker:NTLA]]) to write the next chapter of what could be one of the most important biotech stories of the century. … Continue reading “CRISPR and More at Boston’s Life Science Disruptors Oct. 20”
Roundup: FloSports, Aidant, Tech Wildcatters, Bayou Startup Showcase
Let’s get caught up with the latest innovation news from Xconomy Texas. —Dallas accelerator Tech Wildcatters announced Tuesday the first startup to reach its top milestone in its new “Gauntlet” program. Selery Fulfillment will receive a $100,000 investment, the largest in the accelerator’s history. The startup provides integrated storage and shipping management for small to … Continue reading “Roundup: FloSports, Aidant, Tech Wildcatters, Bayou Startup Showcase”
Pharma’s Productivity Problem: Finding More Blockbuster Drugs
A recent Wall Street Journal article that raised the possibility of Biogen as the target of another huge pharma buyout cited the lack of productivity as a major driver of M&A in the pharmaceutical industry. The authors made the point that, given the size of companies today, a single garden-variety blockbuster hardly moves the needle. … Continue reading “Pharma’s Productivity Problem: Finding More Blockbuster Drugs”
With New Name and $86M, Tioma To Explore Anti-CD47 Cancer Therapy
With $86 million, a name change, and a new corporate office in the Bay Area, Tioma Therapeutics is pushing forward in its effort to bring an immuno-oncology drug into human clinical trials. The Brisbane, CA-based biotech plans to use the $86 million Series A to fund a trial that could start as soon as 2017 … Continue reading “With New Name and $86M, Tioma To Explore Anti-CD47 Cancer Therapy”
gBETA Graduates 10 Startups, Announces New Program in Beloit
One of Jessica Chapin’s duties as a neuropsychologist is evaluating elderly individuals for dementia. A question that often comes up during these assessments is how patients are feeling when they get behind the wheel. Sometimes it’s the middle-age sons or daughters of seniors who ask Chapin if their parents are still safe to drive, she … Continue reading “gBETA Graduates 10 Startups, Announces New Program in Beloit”
Rare Drug Developer Chiasma Lays Off More Workers After FDA Impasse
Chiasma, whose application for FDA approval for its drug for acromegaly was denied in April, is cutting 44 percent more of its workforce to keep itself afloat as it tries to figure out its path forward in the U.S. Since May, Chiasma (NASDAQ: [[ticker:CHMA]]) has reduced its total workers by 60 percent, leaving it with … Continue reading “Rare Drug Developer Chiasma Lays Off More Workers After FDA Impasse”
Ayar Labs Gets $2.5M to Go After Optical Chips for Data Centers
This startup sits at the intersection of electronics, optics, energy efficiency, and the Internet. It is where more than a decade of academic research meets a multibillion-dollar market. This is the story of Ayar Labs. The San Francisco startup, which has roots in Cambridge, MA, and Boulder, CO, is trying to solve a fundamental problem … Continue reading “Ayar Labs Gets $2.5M to Go After Optical Chips for Data Centers”
As Pfizer Buys, Closes Bind Tx, CEO Hirsch Heads to Agios
The ink is barely dry on Pfizer’s agreement to buy Bind Therapeutics out of bankruptcy and shut it down, but the employee exodus has begun. Andrew Hirsch, who was Cambridge, MA-based Bind’s (NASDAQ: [[ticker:BIND]]) chief financial officer before taking over for Scott Minick as CEO in 2015, has been named the CFO of another Boston-area … Continue reading “As Pfizer Buys, Closes Bind Tx, CEO Hirsch Heads to Agios”
OncoGenex Hires Advisor, Evaluates Options As Cancer Drug Fails Again
It wasn’t too long ago that OncoGenex Pharmaceuticals had high hopes that a drug called custirsen might make a big impact on the fast-moving treatment landscape for prostate cancer. A couple of failed trials later, however, the Bothell, WA, company has now hired a financial advisor to see if it still has a path forward. … Continue reading “OncoGenex Hires Advisor, Evaluates Options As Cancer Drug Fails Again”
Techstars Alum AirFox Adds to Boston’s Sponsored Data Cluster
Silicon Valley rules most areas of high tech in the U.S., but Boston can make a case that it’s the epicenter of the emerging “sponsored data” sector, with a handful of startups powering services that give smartphone users free Internet access if they interact with ads or use a sponsor’s app or website. Three Boston-area … Continue reading “Techstars Alum AirFox Adds to Boston’s Sponsored Data Cluster”
Xconomy Bookclub: A Child Genius Makes His Mark in Nuclear Physics
Are innovators born or made? In Tom Clynes’ book on young genius Taylor Wilson, the answer seems to be both. Clynes begins with Wilson as a precocious 9-year-old, one who had already mastered the science of rocket propulsion, giving an impromptu lecture before a gaggle of fellow tour-takers at the U.S. Space and Rocket Center … Continue reading “Xconomy Bookclub: A Child Genius Makes His Mark in Nuclear Physics”
Xylem Moves Into Smart Metering Business with $1.7B Sensus Deal
Water technology company Xylem is getting into the business of real-time monitoring of water and energy consumption through a $1.7 billion deal to acquire smart meter company Sensus. Rye Brook, NY-based Xylem (NYSE: [[ticker:XYL]]) announced the agreement—an all cash deal—this morning. Sensus, based in Raleigh, NC, sells to utilities hardware and software used for so-called … Continue reading “Xylem Moves Into Smart Metering Business with $1.7B Sensus Deal”
Endeavor Detroit Aims to Help Companies Connect to Mentors and Grow
There’s a new nonprofit organization in town that seeks to connect Michigan’s entrepreneurs with a global network of mentors, service providers, and investors in order to help them grow. Endeavor Detroit set up shop in the Motor City 18 months ago with the goal of finding mid-stage startups with annual revenues between $2 million and … Continue reading “Endeavor Detroit Aims to Help Companies Connect to Mentors and Grow”
Stratatech, Maker of Skin-Like Tissue, To Be Sold To Mallinckrodt
Stratatech, a Madison, WI-based company that’s developing cell-based human tissue for treating burn wounds, has been acquired by Mallinckrodt Pharmaceuticals, the U.K.-based drugmaker said earlier this week. Becoming part of Mallinckrodt (NYSE: [[ticker:MNK]]), which has a market cap of more than $8 billion and offices located around the world, could help speed the commercialization of … Continue reading “Stratatech, Maker of Skin-Like Tissue, To Be Sold To Mallinckrodt”
Doxly Aims to Help Lawyers Manage Transactions Via the Cloud
In 2012, Haley Altman was a rising star at Indianapolis law firm Ice Miller and one of its youngest partners when a frustrating session at the office awakened her inner entrepreneur. It was late one night, when she was working feverishly in her office surrounded by unending stacks of paper, that the idea for her … Continue reading “Doxly Aims to Help Lawyers Manage Transactions Via the Cloud”
Seattle Week in Review: Healthcare IT, Machine Learning, and the 12s
Summer weather may finally come to Seattle in earnest this weekend. Before you head to the lake, check out Xconomy Seattle’s review of a couple of healthcare IT investments; Apple’s acquisition of Turi (nee GraphLab, then Dato) and the future of the iPhone; new funding for Zenoti and Kepler Communications; a new fund for Keiretsu … Continue reading “Seattle Week in Review: Healthcare IT, Machine Learning, and the 12s”
Houston Materials Startup Aidant Navigates the Energy Downturn
Houston—It’s probably not a good sign when you’re leading an energy startup and one of your customers asks you for a job. “He was telling us, ‘I can’t buy anything. This is my wife sitting next to me and I have to lay her off tomorrow,’ ” says Lauren Thompson Miller, CEO and co-founder of … Continue reading “Houston Materials Startup Aidant Navigates the Energy Downturn”
Study Supports MEDC, Says “Time Is Now” for Michigan Entrepreneurship
Last year, when we covered the legislative fight over the state’s budget and how much funding would be allocated to the Michigan Economic Development Corporation (MEDC), the organization had commissioned an independent report from TEConomy Partners (a division spun out of Battelle) that would study the impact of its programs supporting entrepreneurs, startups, and the … Continue reading “Study Supports MEDC, Says “Time Is Now” for Michigan Entrepreneurship”
Bio Roundup: Precision Med and Google, Heron, Lilly, Sarepta & More
The wait continues. An FDA ruling on a Duchenne muscular dystrophy drug from Sarepta Therapeutics—which could be the first ever approved for the disease—has been imminent for a while now, yet Labor Day is fast approaching and still the saga drags on. Speculation abounds, from analysts and pundits, each giving different opinions as to whether … Continue reading “Bio Roundup: Precision Med and Google, Heron, Lilly, Sarepta & More”
Zurex Pharma’s Antimicrobial Attracts $6.2M for Clinical Trial
Zurex Pharma, which is developing antimicrobial products for healthcare-associated infections, has raised more than $6.2 million in equity funding, according to a regulatory filing that was made public on Thursday. In a press release, Middleton, WI-based Zurex said the money is an “initial close of a Series C financing,” and will be used in part … Continue reading “Zurex Pharma’s Antimicrobial Attracts $6.2M for Clinical Trial”
Metabolon Nabs $15M from Essex Woodlands for Precision Medicine Push
Metabolon, a company that makes diagnostics tests that analyze the biochemical processes related to metabolism, has raised $15 million in new funding from healthcare investment firm Essex Woodlands to advance its precision medicine efforts. Research Triangle Park, NC-based Metabolon specializes in metabolomics, the study of substances related to the body’s metabolism. With the new funding, … Continue reading “Metabolon Nabs $15M from Essex Woodlands for Precision Medicine Push”
From Drugs to Data, Student Founders at Rice, UH Make Their Pitches
Houston—For the Bayou Startup Showcase, the third time proved to be the charm. Wednesday evening’s demo day of the student startup programs from the University of Houston and Rice University showed a certain maturity, a gelling of operations both in terms of the joint summer accelerator and in the startups themselves. The pitches this year … Continue reading “From Drugs to Data, Student Founders at Rice, UH Make Their Pitches”
Productivity in Your Pocket
The app that you use is the one in your pocket. Today, larger mobile screens and touch interfaces are allowing people to do real work—not just e-mail—with the computer they have, wherever they are. It started with the Blackberry in the early 2000s. Like a dream, or a nightmare, e-mail—which is still the go-to work … Continue reading “Productivity in Your Pocket”
MIT’s Jacks Leans on Disney Family, Not VCs, to Hatch New Startup
Tyler Jacks is a cancer research pioneer, one of the co-chairs of the White House’s ambitious Cancer “Moonshot” initiative, and has helped advise a number of companies developing cancer drugs over the years. But only now is Jacks building a cancer drug maker of his own: a stealthy startup called Dragonfly Therapeutics. Dragonfly was formed … Continue reading “MIT’s Jacks Leans on Disney Family, Not VCs, to Hatch New Startup”
Allergan Pays $95M for ForSight VISION5, Eye Insert for Glaucoma
Allergan, the Dublin-based pharmaceutical company, has agreed to pay $95 million to buy ForSight VISION5 and its in-eye treatment for glaucoma. The Menlo Park, CA-based biotech makes a ring that rests on the surface of the eye beneath the eyelid, to be inserted by an ophthalmologist or optometrist. The ring releases Allergan’s (NYSE: [[ticker:AGN]]) glaucoma … Continue reading “Allergan Pays $95M for ForSight VISION5, Eye Insert for Glaucoma”
Olympics Streaming, Uber Law, Exec Turnover & More Boston Tech News
In our latest recap of recent Boston tech headlines, we’ve got stats about Olympics online viewing, the latest development in local regulations of Uber and Lyft, a trio of acquisitions, and recent executive departures. Read on for details. —If you’re one of the more than 1 million people that have watched at least part of … Continue reading “Olympics Streaming, Uber Law, Exec Turnover & More Boston Tech News”
Redox and Kinvey Team Up, Hoping To Simplify Healthcare App-Making
Creating a software application that can talk to a hospital or clinic’s patient record-keeping system can be messy. As a result, many third-party developers elect to use an application programming interface, like one created by the Madison, WI-based startup Redox, to get data in and out of healthcare organizations’ records systems. Still, app-makers, regardless of … Continue reading “Redox and Kinvey Team Up, Hoping To Simplify Healthcare App-Making”
Rose-Hulman Ventures Boosts Indiana Startups With Student R&D Teams
[Editor’s note: This story is part of a series examining tech transfer and innovation initiatives at Indiana colleges and universities.] A temperature-controlled, pressurized dispenser of liquid chocolate; a WiFi-enabled garbage bin that sends electronic alerts when it needs emptying; a medical tool that helps guide placement of other equipment during brain surgery. Those items are … Continue reading “Rose-Hulman Ventures Boosts Indiana Startups With Student R&D Teams”
As U.S. Looks to Launch Precision Health Study, Google’s Role Emerges
The U.S. government has ambitious plans for a long-term health study with one million Americans, and one of the world’s most powerful tech companies has a big part to play, including the storage of all the data on its “cloud” servers. Google’s parent company Alphabet (NASDAQ: [[ticker:GOOG]]) and its wholly owned biotech R&D group, Verily … Continue reading “As U.S. Looks to Launch Precision Health Study, Google’s Role Emerges”
Nervana’s $400M+ Buyout Reflects Key Tech Trend in Machine Learning
On the day after Intel announced its acquisition of San Diego machine learning startup Nervana Systems, investor Steve Jurvetson told me he was feeling a sense of satisfaction about a call he made three years ago, and how it has been playing out. In a 2013 panel discussion at Silicon Valley’s Churchill Club, the DFJ … Continue reading “Nervana’s $400M+ Buyout Reflects Key Tech Trend in Machine Learning”
Accolade Raises $70M to Build Healthcare Concierge Technology
Accolade, the healthcare IT company that filled its C-suite with the executive team behind one of the Seattle area’s biggest startup success stories and established a new headquarters here earlier this year, has added $70 million in fresh capital to its coffers from Andreessen Horowitz and Madrona Venture Group, among others. The funding, part of … Continue reading “Accolade Raises $70M to Build Healthcare Concierge Technology”
Newly Public Acacia Targets Data Centers, Wants to Be the Next Intel
They are the few, the proud, the tech companies that have gone public this year. Acacia Communications is one of them. The Maynard, MA-based networking company (NASDAQ: [[ticker:ACIA]]) raised $103.5 million in its IPO in May. That remains the Boston area’s only tech IPO of 2016. Meanwhile, San Francisco-based software firm Twilio went public in … Continue reading “Newly Public Acacia Targets Data Centers, Wants to Be the Next Intel”
Gemphire’s Delayed $30M IPO Will Pay for Trials of Cholesterol Drug
After a series of delays partly caused by Brexit-inspired stock market volatility, Northville, MI-based biotech startup Gemphire Therapeutics (NASDAQ: [[ticker:GEMP]]) has successfully completed its initial public offering. The good news is the IPO gave Gemphire, which ended the first quarter with just $1.6 million in cash, some needed financial breathing room. The bad news is … Continue reading “Gemphire’s Delayed $30M IPO Will Pay for Trials of Cholesterol Drug”
Heron Gains FDA Support For Nausea Drug After A Year Under Review
The decision that Heron Therapeutics has been waiting on for almost a year is finally in: The FDA has approved the Redwood City, CA-based company’s drug for nausea and vomiting associated with certain chemotherapy regimens. Heron (NASDAQ: [[ticker:HRTX]]) first submitted a new drug application for the treatment, granisetron (Sustol), to the FDA in September 2015. … Continue reading “Heron Gains FDA Support For Nausea Drug After A Year Under Review”
Gary Hayslip on the City of San Diego as Cybersecurity Test Bed
When Xconomy convened a dinner discussion earlier this year that included prominent San Diego cybersecurity innovators, startup founders, and system administrators, I was stunned to learn that Gary Hayslip oversees an IT network that blocks an average of 800,000 cyber attacks a day. Hayslip is deputy director and chief information security officer (CISO) for the … Continue reading “Gary Hayslip on the City of San Diego as Cybersecurity Test Bed”
Comcast, VCs Pour $56M Into Virtual-Assistant Firm Interactions
Here’s an interesting trend worth watching: investors are pumping money into a variety of technologies aimed at improving businesses’ customer service operations. It’s not the sexiest of industries, perhaps, but we’ll all be thankful if these bets help smooth out what’s typically a frustrating and time-consuming experience for consumers. What’s even more compelling is the … Continue reading “Comcast, VCs Pour $56M Into Virtual-Assistant Firm Interactions”
Data Software Startup MapR Raises $50M, Signals IPO Plans
MapR, one of the data management companies vying to help businesses grapple with the onslaught of information they process and store, announced a $50 million equity financing today and revealed that it’s considering an initial public offering. San Jose, CA-based MapR, a competitor to Cloudera and Hortonworks, sells software designed to integrate the data that … Continue reading “Data Software Startup MapR Raises $50M, Signals IPO Plans”
EyeKor Stares Down $600K to Develop Clinical Trial Software
EyeKor, a developer of software for managing clinical trials of therapeutics for ocular diseases, has raised $600,000 in equity funding from five investors, according to a regulatory filing. The Madison, WI-based company’s flagship product, called Excelsior, is a cloud-based software-as-a-service (SaaS) platform that helps researchers collect and interpret ophthalmic data. Excelsior, which in 2013 received … Continue reading “EyeKor Stares Down $600K to Develop Clinical Trial Software”
WA State’s Healthcare Transformation Checkup: How Are We Feeling Today?
We all know (or should know by now) that healthcare is undergoing a historic transformation into a digital consumer service. Consumers will soon expect to comparison shop health providers the same as they would for travel, banking, real estate or consumer goods. Health providers that develop the right formula of value—publishing reference pricing and outcomes … Continue reading “WA State’s Healthcare Transformation Checkup: How Are We Feeling Today?”
As Monster Gets Eaten by Dutch Firm Randstad, a Dot-Com Pillar Falls
Another dot-com era relic has been acquired for a pittance compared with what it was worth in its heyday. Monster Worldwide (NYSE: [[ticker:MWW]]), the parent company of job search website Monster.com, has agreed to be snapped up for $429 million by Randstad Holding, an Amsterdam-based firm that provides staffing and other human resources services. Under … Continue reading “As Monster Gets Eaten by Dutch Firm Randstad, a Dot-Com Pillar Falls”
Inspyr Seeks Clinical Partner for Cash After New Name, Exec Hires
San Antonio — Inspyr is a biotech in need of a turnaround. Chris Lowe, the CEO who was officially hired this month to replace co-founder Craig Dionne, is hoping a deal with another drug developer can help make a U-turn in the business. The 12-year-old San Antonio-based company has results from a Phase 2 trial … Continue reading “Inspyr Seeks Clinical Partner for Cash After New Name, Exec Hires”
Aldeyra Surges on New Data, Another Step For Inflammation Drug
Step by step, a small biotech called Aldeyra Therapeutics has been trying to build a case for a new type of inflammation-fighting medicine. Data released this morning by the Lexington, MA-based company continue to support the idea. Aldeyra said its drug, a medicine called NS2 meant to “trap” toxic aldehyde molecules, succeeded in a mid-stage … Continue reading “Aldeyra Surges on New Data, Another Step For Inflammation Drug”